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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff and Graeme Wearden

UK house price growth halves amid rising mortgage interest rates

Interest Rates Nationwide United Kingdom United States
A terrace of brightly painted houses in Brighton
Nationwide said there was ‘upward pressure on the market interest rates which underpin mortgage pricing’. Photograph: BMD Images/Alamy

Annual house price growth halved in the UK last month, as economic uncertainty caused by conflict in the Middle East continued to deter homebuyers.

The average price of a British home rose 0.8% in the year to September to £274,251, according to Nationwide. That was half the rate recorded in August, when house prices grew 1.6% year on year. It also marked the slowest pace of home price growth since December last year.

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